Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Culpeper Restaurant Opportunity Title is generated by Realmo AI

    128 E DAVIS ST, Culpeper, VA 22701

    View on Map
    Claim this Listing
    For Sale
    $1,395,000

    Commercial/Industrial - CULPEPER, VA

    Lot size:
    0.05 Acres
    Added:
    Jan 10, 2026
    Days on Market:
    118
    Last Refresh:
    May 8 at 9:06 pm

    Property Features for 128 E DAVIS ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    On Street, Other
    Standard status
    Active
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3292

    Utilities

    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    1953
    Flooring type
    Hardwood, Tile, Tile - Ceramic, Wood
    Building materials
    Brick
    Roof type
    Metal, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Philip L Thornton

    Listing agent Philip L Thornton

    Listing office Warrenton 492 Blackwell Road, VA

    Listing date Jan 10, 2026

    MLS# VACU2012368 Listing URL

    Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turn‑key opportunity to acquire a historic, established restaurant (It's About Thyme) with a 30‑year legacy.
    • Includes a renovated, luxury two‑bedroom apartment with views overlooking Davis Street.
    • Long‑term lease for a covered alleyway provides conditioned outdoor dining space.
    • Located in the heart of historic downtown Culpeper, recognized as one of the best small towns and Main Streets in America.
    • Features murals by famed Italian artist Davido Rodoquino.
    • Building constructed with durable brick, metal, and rubber roof.

    Overview

    This property presents a turn-key opportunity in historic downtown Culpeper. The building houses a restaurant that has been a Culpeper institution for 30 years. The restaurant space features murals by Italian artist Davido Rodoquino. Above the restaurant is a renovated two-bedroom luxury apartment overlooking Davis Street, offering opportunities for the next owner or investor. The new owner will have access to a covered alleyway through a long-term lease with the Town, allowing the restaurant to offer conditioned outdoor dining space. The property is located on Davis Street, in an area recognized as one of the best small towns and Main Streets in America. The lot size is 0.05 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    It's About Thyme Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Culpeper
    County
    Culpeper
    State
    Virginia
    Longitude
    -77.99556
    Latitude
    38.4734

    Nearby Similar for Sale

    • $699,900
      3,200 SF

      Renovated Mixed-Use Building in Culpeper

      Mixed-use commercial building with residential units in Culpeper, VA.
      1012 S MAIN Street, CULPEPER, VA 22701
      View Details
    • $899,900
      12,960 SF

      Equine Property with Indoor Arena

      Turnkey equine facility on 14+ acres with arenas.
      8021 OLYMPIC WAY, CULPEPER, VA 22701
      View Details
    • $899,900

      Equine Property with Indoor Arena

      Turnkey equine property with boarding, training facilities, and arenas.
      8021 OLYMPIC WAY, CULPEPER, VA 22701
      View Details
    • $899,900

      Equine Property with Arenas, Stables

      Turnkey equine property with indoor and outdoor arenas and stables.
      8021 OLYMPIC WAY, CULPEPER, VA 22701
      View Details
    • $999,900

      Turnkey Equine Property For Sale

      Equine-oriented property with barns, arenas, and paddocks on 14+ acres.
      8021 OLYMPIC WAY, Culpeper, VA 22701
      View Details
    • $699,900

      Renovated Mixed-Use Building in Culpeper

      Recently renovated mixed-use building with commercial and residential units.
      1012 S MAIN St, Culpeper, VA 22701
      View Details
    • $899,000

      Thriving Franchise Opportunity in Culpeper

      Established UPS Store franchise for sale in NOVA commuting area.
      15191 MONTANUS DRIVE, CULPEPER, VA 22701
      View Details
    • Contact for pricing
      2,894 SF

      7-Eleven Investment Opportunity

      Leased 7-Eleven with 10+ years remaining on lease.
      11113 James Monroe Hwy, Culpeper, VA
      View Details
    • $1,150,000
      1,232 SF

      Turnkey Equine Property on 14+ Acres

      Equine-oriented property with barns, arenas, paddocks, and living quarters.
      8021 Olympic Way, Culpeper, VA 22701
      View Details
    • $14,250,000
      87,120 SF

      Culpeper Retail Opportunity

      Retail property available for rent in Culpeper, Virginia.
      783 Nalles Mill Rd, Culpeper, VA
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Turn-key restaurant with luxury apartment in historic downtown Culpeper.
    Where is this conventional restaurant located?
    The property is located at 128 E DAVIS ST Culpeper, VA.
    What is the asking price?
    The asking price for this property is $1,395,000.
    What are key features of this property?
    This property features: Turn‑key opportunity to acquire a historic, established restaurant (It's About Thyme) with a 30‑year legacy.; Includes a renovated, luxury two‑bedroom apartment with views overlooking Davis Street.; Long‑term lease for a covered alleyway provides conditioned outdoor dining space.
    (888) 536-0216
    We can help!
    Listing Contact
    Philip L Thornton
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    128 E DAVIS ST, CULPEPER, VA 22701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!